Author: citibusinessnews
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Refine crude at TOR if … – ACEP
The Africa Centre for Energy Policy (ACEP) says Ghana’s crude oil should only be refined at the Tema Oil Refinery (TOR) if it will be cheaper. The state owned oil refinery has over the years been saddled with debts and operational inefficiencies leading to low production capacity. Recently, workers of the refinery embarked on a…
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AngloGold Ashanti to address Obuasi mine’s poor performance
AngloGold Ashanti says it will continue to dialogue with a range of stakeholders in Ghana as it implements measures aimed at addressing the long-running poor performance of the Obuasi mine in Ghana. As part of these consultation efforts, on 18 July 2014 AngloGold Ashanti submitted its Amended Programme for Mining Operations (APMO)to the Government of…
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Starbow denies aircraft catching fire in air
Starbow airline has denied media reports that an aircraft of the company caught fire in mid-air. “… there was no emergency landing whatsoever; there was no danger like is being reported,’’ Chief Executive Officer of Starbow, James Eric Antwi told Citi News. The aircraft was reported to have made an emergency landing at the Kotoka…
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Ghana loses 400 megawatts of power annually – Minister
Ghana loses 400 megawatts of power annually due to illegal power connection and improper cable installations, Eric Opoku, Brong-Ahafo Regional Minister has said. Mr Opoku said about 73 percent of electricity generated nationally are supplied to individual households, stressing that, the country could conserve more power if individuals used electricity judiciously. The Regional Minister disclosed…
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Exporters welcome Customs’ export review
The Importers and Exporters Association of Ghana has welcomed the review of the export procedures at the Tema Harbour by the Customs Division of Ghana Revenue Authority. The Commissioner of Customs, Wallace Akondor, this week announced the setting up of a four-member committee to review the export processes at the port. The committee is mandated…
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Union Savings train SMEs on the need pay tax
Union Savings and Loans through its Small and Medium Scale Enterprise (SME) Clinic has offered free education on the new 17.5 percent VAT/NHIL to clients. Education on the provision of the VAT Act 2013 (Act 870) on financial services for which fees and commissions are imposed has generally been low in Ghana. According to the…
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Ebola disrupts some local economies in West Africa
Caterpillar has evacuated a handful of employees from Liberia. Canadian Overseas Petroleum Ltd. has suspended a drilling project. British Airways has canceled flights to the region. ExxonMobil and Chevron are waiting to see whether health officials can contain the danger. The Ebola outbreak, which has claimed nearly 1,000 lives, is disrupting business and inflicting economic…
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GSS to conduct economic census of businesses
The Ghana Statistical Service (GSS) will start conducting an economic census of all businesses in the country between now and September. Dubbed “Integrated Business Survey (IBES)”, it will be structured in two phases. This was made known by the Government Statistician, Dr Philomena Nyarko, during an IBES stakeholder sensitisation workshop organised in collaboration with the…